Over 80 percent of recent solar auctions in India won by larger solar developers, Mercom

A detailed analysis of the winners of major solar auctions held in India over the past 12 months indicates that bidding has been dominated by larger, more-established companies.

"Larger developers who are backed by strong balance sheets and corporate entities, PE financed or publicly traded have separated themselves from the smaller developers at least since the REWA auction last year. Stronger financial resources and access to lower cost capital allows these larger developers to weather the current uncertainties around trade cases and risk better than smaller developers,” said Raj Prabhu, CEO of Mercom Capital Group.